S. To fall behind other nations in upward mobility of the population.
Foroohar also suggests that some European nations (such as Germany) responded better to the recent economic crisis than the U.S., such as by artificially preventing unemployment rates from rising by subsidizing companies to retain them through hard times. As a result, consumer spending did not drop of the way it has in the U.S., resulting in a cycle of decreasing demand and increasing unemployment predicted by traditional macroeconomic principles. Finally, Foroohar points to the more equitable and les complicated tax codes in European nations that omit corporate tax loopholes and reduce the pressures that have resulted in the loss of upward socioeconomic mobility in the U.S.
3. Conclusion
Rana Foroohar's article highlights the manner in which recent trends in American society have demonstrated classic macroeconomic...
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